View more on these topics

Flexible Buy To Let In The Pink

Pink Home Loans is offering a flexible buy to let mortgage for people who want to become landlords or existing landlords who want to build up a portfolio of properties.


The mortgage has a capped rate of 6.99 per cent for the first year. It then reverts to 1.5 per cent over the Libor rate which is currently 6.28 per cent. A self-certification options is also available which is useful for people who cannot produce evidence of their income, particularly the self-employed. This option has a capped rate of 7.24 per cent in the first year which then reverts to 8.03 per cent.


Full flexibility is offered with interest calculated daily and the ability to overpay, underpay, take payment holidays and make lump sum withdrawals. It also scores highly as there are no redemption penalties.


In comparison, Legal & General’s Flexi mortgage is a buy to let flexible mortgage with a fixed rate of 6.99 per cent until November 30, 2003. This has the advantage of a stable rate for a longer period but there are redemption fees of 3 months’ interest in the first three years. It is also not as flexible as the Pink Home Loans mortgage as underpayments are not allowed.

Recommended

Inter-Alliance goestop with Lincoln buy

Inter-Alliance will become the biggest national IFA, with 1,850 registered individuals following the purchase of the 1,000-strong Lincoln tied salesforce.It will eclipse rival Bradford & Bingley which has 800 RIs, although not all Lincoln sales staff are expected to move.Inter-Alliance bought Lincoln&#39s UK salesforce last week for an undisclosed sum in a bid to become […]

Criticism as IFAs recommend clients to log off from Henderson global tech

Best Investments and Unitas have come under fire from rival IFAs after recommending their clients switch from Henderson&#39s global technology fund following the announcement that its managers are to quit.Rivals claim such a move is unnecessary as fund managers Brian Ashford Russell and Tim Woolley will remain at Henderson for another three months.Most IFAs have […]

Sweeping changes?

What lies ahead for pension rights for same-sex partners? Last week, I moved my “sex and pension schemes” discussion on to the rights of homosexuals to receive a surviving “spouse&#39s” pension on the death of their partner.The lead case in this respect is Lisa Grant v South West Trains. Lisa is an employee of SWT, […]

The Mortgage Operation – Self Cert Fix

Thursday, 12th October 2000.Type: Self cert mortgage.Fixed term: Until December 3, 2003.Fixed rate: 6.95 per cent.Minimum loan: £25,001.Maximum loan: 90 per cent of valuation subject to a maximum of £1 million.Income multiples: 3.5 times principal income plus second, or 2.75 times joint for self employed.Arrangement fee: £325.Redemption fee: Three months&#39 interest on amount repaid for […]

The Perils of Passive Investing

The era of loose monetary policy created an environment that rewarded passive investors in the US. However, with the US raising interest rates for the first time since 2006, Felix Wintle explains why he believes active investing will be more important than ever. In the video Felix discusses: The rising cost of capital and its […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment